Credomatic Merchant Services 2023: Reviews & Complaints

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Company Overview

Credomatic Merchant Services, also known as Credomatic of Florida, Inc., is a merchant account provider that was founded in 1981. The company is a U.S.-based subsidiary of BAC Credomatic Network and appears to rely on TSYS for its processing network.

Credomatic Merchant Services Payment Processing

Credomatic Merchant Services processes most major debit and credit cards for most business types. Their services include EMV readers and card swipers, POS solutions, wireless and mobile processing, access to multiple payment gateways, OptBlue American Express processing, e-check processing, gift and loyalty programs, data reporting and analysis, payroll and marketing services, and cash advances. The company provides retail merchants with Global Bay Merchant POS systems while offering restaurants Focus POS, Ordyx, and Ambur.

Mobile Payment Services of Credomatic Merchant Services

Credomatic Merchant Services provides a comprehensive mobile payment service catering to businesses that require on-the-go transaction capabilities. This service enables businesses to accept and process card transactions directly from a mobile device. It’s particularly beneficial for outdoor vendors, event organizers, and mobile service providers, offering an increased level of transactional convenience and flexibility.

E-Commerce Payment Processing from Credomatic Merchant Services

In response to the rising trend of online shopping, Credomatic Merchant Services offers a secure online payment processing service. They provide an efficient online payment gateway that allows businesses to easily manage online transactions, meeting the needs of a digitally inclined customer base.

Virtual Terminal Services by Credomatic Merchant Services

Credomatic Merchant Services provides a virtual terminal service for businesses that primarily operate via mail or phone orders. This service allows businesses to manually input card information into a secure web-based system, providing a versatile solution for remote payment processing.

Integrated Business Management Tools by Credomatic Merchant Services

Beyond their payment processing services, Credomatic Merchant Services also offers integrated software solutions aimed at enhancing various aspects of business operations. These tools cover functionalities such as payment processing, inventory management, CRM, and data analytics, contributing to improved operational efficiency for businesses.

Location & Ownership

The company’s U.S.A. headquarters is located at 9155 S Dadeland Blvd, Miami, FL 33156. The company is an ISO/MSP of BAC Florida Bank, Miami, Florida, and the CEO of Credomatic is Rodolfo Tabash Espinach.

Table of Contents

Credomatic Merchant Services payment processing
Credomatic Merchant Services offers most standard processing services

Credomatic Customer Reviews

Here's What Their Clients Say

Key Points

Total Online Complaints <10
Live Customer Support Yes
Most Common Complaint N/A
Recent Lawsuits No

No Complaints

We have found few Credomatic Merchant Services reviews. The company is not showing any complaints that accuse the company of being a ripoff or a scam. The company hires in-house relationship managers that are appointed to specific merchants, which seems to be a highly effective tactic for resolving complaints before they go public. If you have your own Credomatic Merchant Services review to make, please do so in the comments below.

Credomatic Merchant Services Lawsuits

We have not found any outstanding class-action lawsuits or FTC complaints filed against Credomatic Merchant Services. Dissatisfied clients who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.

Credomatic Merchant Services Customer Support Options

While the company does not rank as a top payment processor for quality customer service, its use of relationship managers and the presence of a dedicated support phone number on its website are promising signs. If you have any experience with Credomatic Merchant Services customer service, please describe that communication in the comment section of this review.

Credomatic Merchant Services Customer Service Numbers

  • (877) 372-3012 – General Support
  • (305) 372-3012 – Local Office
  • (305) 670-5217 – Fax

Other Support Options

Credomatic Online Ratings

Here's How They Rate Online

Online Ratings Summary

Product & Service Complaints 0
Billing & Collection Complaints 0
Advertising & Sales Complaints 0
Guarantee & Warranty Complaints 0
Delivery Complaints 0

No BBB Complaints

Credomatic Merchant Services is not an accredited business of the Better Business Bureau and currently has no rating, though it previously had an “A+”. The company has received 0 complaints in the past 36 months. Credomatic Merchant Services has also received 0 informal reviews on its BBB profile.

An “A” Performance

In light of the company’s clean complaint record, we agree with the BBB’s former rating at this time. Business owners should note, however, that there are good reasons to be skeptical of the BBB’s rating system.

Credomatic Fees, Rates & Costs

A Closer Look at The Contract

Key Points

Cancellation Penalties Yes
Monthly & Annual Fees Yes
Processing Rates Interchange-Plus
Equipment Leasing Unclear

Interchange-Plus Pricing

The standard Credomatic Merchant Services contract is a three-year agreement with automatic one-year renewal, an early termination fee of $250, a monthly minimum fee of $25, a $10 monthly statement fee, and a PCI Compliance fee of $7.50 per month. The Credomatic website actively promotes interchange-plus pricing for all merchants.

Potentially High Early Termination Fee

One version of the company’s terms and conditions, which appears to be newer than the document referenced above, lists an early termination fee of $1,500. This is an egregiously high amount for a cancellation fee, and it’s surprising that it hasn’t generated more complaints for the company. The possibility of this fee is enough to exclude Credomatic Merchant Services from our list of the cheapest merchant accounts. It’s possible that the full $1,500 isn’t charged to most businesses, but they should be wary of this possible fee before signing up for service.

Below-Average Contract Terms

Overall, these contract terms are below-average for the industry, but we have not located any Credomatic Merchant Services complaints that specifically mention the company’s pricing and fees as a point of dissatisfaction. We will therefore award Credomatic Merchant Services a rating of “C” in this category.

Credomatic Employee Reviews & Sales Tacitcs

Should You Work For Them?

Key Points

Uses Independent Resellers No
Telemarketing No
Misleading Marketing No
Discloses All Important Terms No

Credomatic Sales Approach

Credomatic appears to utilize referral programs and W2-employed sales agents to market its services. The use of W2 agents tends to allow a company to exercise greater control over the conduct of its agents, resulting in lower client complaints. We are unable to find any Credomatic reviews that mention the company’s sales team, which suggests that its agents are well-trained and appropriately regulated. That said, we always recommend that merchants consider a third-party statement audit to find and eliminate hidden fees.

No Deceptive Advertising

As another point in the company’s credit, Credomatic also does not appear to engage in any deceptive advertising strategies in its official materials. We will therefore award it an “A” in this category.

Our Credomatic Review Summary

Our Final Thoughts

Credomatic Merchant Services rates as a reliable credit card processing provider according to our criteria. The company is showing 0 public complaints and appears to place an emphasis on quality customer service and transparent sales strategies. The one factor lowering its score is its industry-average contract. Business owners are still advised to read all documentation before signing up with the company and to compare its costs with those offered by top-rated merchant services providers.

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Your Comments & Reviews

How Did Credomatic Treat You?

1 Responses

  • Ezra Pamela

    I’ve been a loyal customer of Credomatic for several years now, and I can confidently say that they have exceeded all my expectations as a merchant service provider. Working with them has been an absolute pleasure!

    From the very beginning, Credomatic’s team showed genuine interest in understanding my business needs. They took the time to listen and offered a tailored solution that perfectly aligned with my requirements. It’s evident that they value their customers and treat us as partners, not just account numbers.

    What sets Credomatic apart is their user-friendly platform. It’s so intuitive that even a non-tech-savvy person like me can navigate through it effortlessly. Managing transactions, tracking sales, and accessing insightful reports have become a breeze, which has greatly improved my business’s efficiency.

    When it comes to pricing, Credomatic has been upfront and transparent. There are no hidden fees or surprises in my monthly statements, which is a huge relief. Their competitive rates have also saved me money, making them a cost-effective choice for any business.

    I must commend their outstanding customer support team. Whenever I have a question or encounter an issue, they respond promptly and professionally. I never feel like I’m just another customer; they genuinely care about my success and are always willing to go the extra mile to help.

    Security is of utmost importance in the payment processing industry, and Credomatic takes it seriously. I trust their robust security measures to safeguard my customers’ sensitive information, giving me peace of mind.

    Over the years, Credomatic has consistently demonstrated their commitment to innovation. They keep up with the latest trends and technological advancements, offering cutting-edge solutions to enhance my business operations.

    In conclusion, I can confidently say that Credomatic is more than just a merchant service provider; they are a true partner in my business’s growth and success. Their exceptional service, user-friendly platform, transparent pricing, and top-notch security make them stand out in the industry. If you’re looking for a reliable and customer-focused solution for your payment processing needs, I wholeheartedly recommend Credomatic. They have earned my trust and loyalty, and I’m sure they’ll do the same for you!

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